Bank of Israel: Banks will be required to calculate for each customer the most profitable fee route

The Bank of Israel issued a first draft of the fee rules update, according to which the banks will be required to calculate for each customer every month what is the most profitable fee route for him, according to the actions he actually performed that month, and attach it to the cheapest fee route. In doing so, the supervision of the banks wishes to transfer the responsibility of switching to the most profitable route, which until now has been with the consumers, to the banks.
Also, according to the draft published by the Bank of Israel, the group of small businesses to which the discounted rate will apply will be expanded, the default will be changed by adding a small business to the discounted fee rate, and the expanded fee track for customers with extensive banking activity will be updated so that it does not include a limit on the number of operations.
The supervision of banks actually wants to change the payment method that exists today, according to which bank customers pay for each current account operation separately, unless they have chosen to join one of the existing track services: a basic track at a controlled price of NIS 10 per month or an extended track whose price varies from bank to bank and ranges from 20 to 30 shekels per month.
As mentioned, according to the new payment method, the customer will not be required to actively join the route, but the bank will consider which is the cheapest payment method according to the current account operations carried out by him in practice (operation by a clerk and operation through a direct channel), and the payment collected from him will be in accordance with the most profitable route most for him.
For example, a customer who performed up to five operations in a direct channel will be associated with a pre-commission payment route (Pay As You Go) and will pay NIS 6-10 per month, depending on the bank's tariff. A customer who has crossed this threshold will be assigned to the supervised basic rate of up to NIS 10 or to the extended rate - the cheapest depending on the number of operations he performed.
This, while today customers who are on the pre-commission payment route may pay several hundred shekels per month for commissions, if they do not associate themselves with the extended route (which, as mentioned, ranges between 20 and 30 shekels per month only).